Crypto has made immense progress during the last couple of years. At this stage, there are approximately 200 exchanges around the world facilitating crypto use. Nonetheless, Binance is topping them all. It has brought cutting edge technology in the crypto market. The CEO of Binance Changpeng Zhao is a visionary leader with innovative ideas. Just before the third anniversary of Binance, the exchange has brought yet another good news for its users in the form of Binance Card.
“I think I can go from 99% to 100% Crypto”, Binance’s CEO Changpeng Zhao tweeted on July 10th, 2020 after he demonstrated the use of Binance card with swipe technology. CZ himself took part in beta testing of the card. The experiment involved the transaction of Binance Coin (BNB).
CZ proudly announced that the beta test features real transactions. The details included Uber alternative Grab, Amazon’s audio store Audible, and an esteemed e-commerce platform, Lazada.
Binance crypto card was introduced by Binance exchange on April 1st, 2020. This crypto card is just like any other debit card. You need to fill your account with BNB or Bitcoin through Binance Card App and you’re good to go.
According to Binance’s website, 46 million merchants around the world will accept the payment through the Binance crypto card. It includes sellers in both online and offline spaces from 200 regions of the world.
The crypto card arrived in the beta version. It costs you 15-USD (one-time cost only). There is no monthly or annual fee. The identity verification for crypto card issuance is a simple and secure method.
At the time of release, Binance didn’t plan to integrate Binance crypto card with Swipe technology. However later on 6th July platform acquired Swipe company and the two worked closely for the release of crypto debit cards.
Breakthrough In Crypto World:
The crypto card is a breakthrough in crypto world. It will start yet another debate on whether Crypto can replace Fiat or not. Cryptocurrency is still not legal in some countries. Governments around the work look suspiciously at the cryptocurrency for its decentralized system. Yet, acceptance among individuals is increasing. People are embracing crypto to get rid of the unstable fiat banking system. Crypto card is just another example of crypto competing fiat. Hopefully, other crypto exchanges will follow the suit of Binance in adapting the swipe card technology.
Binance and Innovation:
Binance has always been among the pioneer of new crypto technologies. The Binance Coin (BNB), DeFi Technology, Multitude of Coin pairs for trading, and other domains of Binance ecosystem have made it the apple of every crypto enthusiast’s eye. If you too are interested in using Binance Exchange then getting to know it better is important. On this link, you can read an extensive Binance Exchange Review by our team. You can jump to different sections to focus on key things such as ‘Is it safe?’ and ‘How much is the fee’. For now, we will leave you here with the Binance’s crypto card technology powered by Swipe.